King Luther Capital Management Corp Lowers Stock Position in Novo Nordisk A/S (NYSE:NVO)

King Luther Capital Management Corp decreased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 39.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,172 shares of the company's stock after selling 10,999 shares during the quarter. King Luther Capital Management Corp's holdings in Novo Nordisk A/S were worth $2,045,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company's stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Halpern Financial Inc. raised its position in shares of Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company's stock worth $30,000 after purchasing an additional 113 shares during the last quarter. Finally, Abound Wealth Management raised its position in shares of Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company's stock worth $31,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVO. StockNews.com upgraded Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 1st. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of "Buy" and a consensus target price of $144.50.

Novo Nordisk A/S Trading Up 2.4 %

NVO traded up $2.43 during trading on Friday, hitting $105.06. The company's stock had a trading volume of 6,143,345 shares, compared to its average volume of 6,739,271. The firm's 50 day moving average price is $115.48 and its 200-day moving average price is $128.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market cap of $471.46 billion, a PE ratio of 34.00, a PEG ratio of 1.32 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15.

Novo Nordisk A/S Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.